A bankruptcy judge has rejected the city’s bid to pause the auction of more than 5,000 mostly rent-stabilized New York apartments, clearing the way for a possible takeover by Summit Properties.  The apartments were put up for sale as part of a bankruptcy suit connected to Joel Wiener’s Pinnacle Group. The judge’s decision represents not only a likely change in ownership in New York’s multifamily market but a reminder of the limits to city power when it comes to the dealings of private companies.  The Mamdani administration earlier this week had asked for a 30-day pause on the sale to […]

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